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Skip the Home Depot Credit Card for a Major Credit Card

Home Depot

The Home Depot is one of the most famous home improvement stores in the country, and they offer a credit card to shoppers that’s designed to make shopping and paying for your purchases easier. Anyone interested in a little home improvement project, remodel or even the purchase of a new home might be interested in applying for the Home Depot credit card because they want to earn points, receive discounts and be able to afford improvements on their home.

The vast majority of consumers assume that all credit cards offer rewards, but it’s not the truth. The Home Depot card does not offer rewards, and it does come with some features that many cardholders won’t find as appealing as other cards. Sometimes it’s not better to apply for a store card in lieu of a major credit card on which you can earn points and rewards for every purchase. If you’re in the middle of a construction or remodel project and wondering whether or not it would be more beneficial to apply for a Home Depot credit card than it would a major credit card to finance your project, we have some information to help you make an informed and educated decision that will benefit you financially.

Home Depot Credit Card Rewards

There are not rewards associated with the Home Depot credit card. You will, if you shop at Home Depot, receive discounts in the mail at several points throughout the year, be notified of sales and have the same options to purchase as other people, but you will not be offered any rewards. There is no reward program and no special discounts available for Home Depot card holders. However, if you also have a Lowe’s credit card, the Home Depot will match Lowes’ 5% discount if you show the Lowes card when you make your purchase. That’s about it as far as rewards and discounts go, however.

Financing, Credit Limits and interest Rates

Something else to consider when applying for the Home Depot card is that it might not have as many benefits as major cards that can be used just about anywhere and offer you reward points. At the Home Depot, you will receive an interest rate between 17.99% and 25.99% depending on your credit score. Additionally, the store is not keen on offering high credit limits to customers unless they have perfect credit scores, so your limit is likely to be closer to $500 than anything else if your credit score is below 700.

It’s a great card for those who have an issue with their credit and would love to rebuild. The company won’t offer a high limit to those who are looking to repair a damaged credit score, so it makes it difficult for those consumers to incur a significant amount of debt they can no longer afford to pay off. It’s not a card designed for those who have less than perfect credit, but it is one that will give those people a chance.

Financing offers from the Home Depot for credit card holders do change periodically, so it’s always difficult to pinpoint what type of financing offer might be available at the moment. Usually the terms are very similar, however. For example, the most common financing offer available to cardholders is a 6-months no interest offer on all purchases that exceed $299. Interest does, however, accrue during this term, which means that if the balance is not paid off in full, you will have to pay the interest on the balance for the past six months as well as watch it accrue continuously until the balance is paid in full.

Payment Benefits

Unlike a major credit card that cannot be paid in person, you do have the option of paying your Home Depot card payment in store. What this means for you is that if your payment is due and you don’t have time to stick it in the mail, you can run to the Home Depot and make your payment at the customer service desk. This allows you to make the payment and see it posted to your account immediately. You will even be able to use your newly lowered balance to shop as soon as you make your payment.

Other payment benefits of this particular card are similar to all other credit cards, major and store cards. You have the option to pay your card balance over the phone, online and through the mail. You can also schedule recurring payments online or just log in each month to pay your card balance.

Card Reviews

The Home Depot credit card is one that has many mixed reviews from cardholders. It seems that you either love the card or you hate the card, and there seems to be very little in-between. Many people state that they love their card. They state they are given frequent credit limit increases on top of their already high limits issued when they applied for the card.

Other customers state that they are very unhappy with the customer service that is associated with the card. They claim that the issuing bank, Citi, is very rude and has no customer service. There are many complaints that when Citi took over the customer service offered to Home Depot cardholders diminished greatly and many people experienced a lowered credit limit.

If you take the time to read the fine print offered by the card and the Home Depot, you will see that Citi retains the right to pull credit periodically and to check the scores of their cardholders and lower or increase credit limits for their own protection. Any cardholder experiencing financially difficulty such as a drop in the credit score or too many opened accounts will very likely experience a decrease in their credit limit by the card issuer for their own protection.

There are mixed reviews, and cardholders are either happy or upset, but it seems that this is the norm with any credit card issuer or company. Whether or not you make the decision to apply for this card is personal, but it does look as if it’s more beneficial to apply for a major card that offers rewards for every purchase so that you benefit from your shopping habits.

10 FAQs about The Home Depot Credit Card

If you are a Home Depot Credit Card holder you may have some questions about your card or your account. Here are the 10 most frequently asked questions from consumers. Home Depot provides these on their website to provide fast answers for customer concerns.

Q: How can I protect my account while traveling?

A: Always retrieve your card when using it to purchase services or goods from Home Depot. Put your card away when you're done using it and don't leave it lying around in hotel rooms or on restaurant tables to avoid having your card number copied. Keep all copies of your receipts and report a missing card immediately if your card is stolen or lost.

Q: How do I add an Authorized User to my account?

A: You must be eligible to add an authorized user. To add an authorized user, access your account online through the Citi process by logging into your account, going to the account profile menu and then select the Add Authorized Users options. Follow the prompts to enter the necessary information to add authorized users to your account.

Q: How do I remove an Authorized User from my account?

A: You may use the Citi online system to remove an authorized user from your account. Log into your Citi online account. Go to the Account Profile menu then choose Manage Authorized Users. This will take you to an area that will allow you to remove authorized users from your account. Follow the process by entering in the necessary information.

Q: What can an Authorized user do with my account?

A: An authorized user can obtain account information, report lost or stolen Home Depot credit cards, initiate billing disputes, request copies of statements, make payments be granted online account access and inquire about fees.

Q: What can't an Authorized User do?

A: An authorized user on your Home Depot credit card account can not request a lower APR, request a change in the billing date, add another authorized user or close the account. These are things that only the owner of the account/cardholder can do.

Q: Where do I get a dispute form?

A: You can obtain a dispute form online. Simply log into your online Citi account and look up the charge that you want to dispute. You will find this information in your transaction line which is located in the Account Activity section and choose the "Dispute this charge" option. There are a couple of other ways to find this form online. From the payments menu select "dispute a charge, choose "dispute a charge from the Help and Contact Us Menu.

Q: How do I change my name?

A: You can change your name on your Home Depot credit card through the online account process. If your name has already changed or if it will change within the next 30 days due to divorce or marriage, you can request a name change online by logging into your Citi account. Navigate to the Account Profile menu, chose Edit Contact Information. If there is a name change for any reason other than for marriage or divorce or for correcting a suffix, prefix or middle initial, you must submit your request in writing. An address for completing this request process is provided on your account's Contact Us page. When submitting your written request include your account number, list the reason for the change and include your signature. Also submit one of the following as the necessary documentation as applicable including a file number from a naturalization document, a copy of your Social Security Number card, a payroll receipt, a copy of your passport or a copy of your driver's license. Only one of these documents is required to confirm your identity.

Q: How do I request a credit limit decrease?

A: You may request to have the amount of your credit limit decreased. To do this, log onto your Citi account online, go to the Help & Contact Us menu, and email customer service to request a credit limit decrease.

Q: How do I request a copy of my Card Agreement?

A: You may request a copy of your card agreement by logging onto your Citi account online and going to the Contact Us tab. Click on the Send Message link that is located under the Email Section. Send an Email to request a copy of your card agreement.

Q: How do I report my card lost, stolen or that it was never received?

A: You can report a card that has been stolen or lost online. Log into your Citi account and choose "Report a Lost or Stole Card" in the Help & Contact Us menu. If you have never received your card, follow up with Home Depot to determine if the card was mailed out to you.


Written by Tiffany

Floridian. Wife. Mom. Writer.

Read more posts by Tiffany

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